Starting Up Own Business Explanation Thesis

PAGES
3
WORDS
845
Cite

" (Entrepreneur, 2009) There are seven components to a business plan as follows:

(1) Executive summary;

(2) Business description;

(3) Market strategies;

(4) Competitive analysis;

(5) Design and development plan;

(6) Operations and management plan; and (7) Financial factors. (Entrepreneur, 2009)

It is important that the individual who starts their own business determine their objectives for the business and toward this end a goals and objectives checklist should be formulated asking questions such as: (1) How determined am I to see this succeed? (2) Am I willing to invest my own money and work long hours for no pay, sacrificing personal time and lifestyle, maybe for years? (3) What's going to happen to me if this venture doesn't work out? (4) if it does succeed, how many employees will this company eventually have? (5) What will be its annual revenues in a year? Five years? (6) What will be its market share in that time frame? (7) Will it be a niche marketer, or will it sell a broad spectrum of good and services? (8) What are my plans for geographic expansion? Local? National? Global? (9) Am I going to be a hands-on manager, or will I delegate a large proportion of tasks to others? (10) if I delegate, what sorts of tasks will I share? Sales? Technical? Others? (11) How comfortable am I taking direction from others? Could I work with partners or investors...

...

The business plan serves as a guide to the individual when starting their own business in which steps to take and in what order these steps should be taken.
MINDMAP -- STARING a NEW Business

Sources Used in Documents:

References

Tozzi, John (2009) a Guide to Self-Employment. Business Week Magazine. 23 Jan 2009. Online available at: http://www.businessweek.com/smallbiz/content/jan2009/sb20090123_156963.htm

10 Steps to Starting a Business (2009) Business.GOV website online available at: http://www.business.gov/start/start-a-business.html

An Introduction to Business Plans (2009) Entrepreneur Connect. Online available at: http://www.entrepreneur.com/startingabusiness/businessplans/article38290.html

Plan Your Plan (2009) Entrepreneur Connect. Online available at: http://www.entrepreneur.com/startingabusiness/businessplans/article38292.html


Cite this Document:

"Starting Up Own Business Explanation" (2009, September 09) Retrieved April 26, 2024, from
https://www.paperdue.com/essay/starting-up-own-business-explanation-19554

"Starting Up Own Business Explanation" 09 September 2009. Web.26 April. 2024. <
https://www.paperdue.com/essay/starting-up-own-business-explanation-19554>

"Starting Up Own Business Explanation", 09 September 2009, Accessed.26 April. 2024,
https://www.paperdue.com/essay/starting-up-own-business-explanation-19554

Related Documents

Resuming the aspects related to the external environment, the following problems were identified: the increased health concerns and possible environmental damage caused by the increasing number of discarded mobile phones may temper, in the future, the demand for mobile phones; changes in the type of consumers implies further diversification; technological changes bring about additional challenges; increasing competition in the mobile phone market. Recommendations The recommendations are based on three pillars: e-business, quality services

Business Message: Wyndham Hotel Customer Survey Message Almost every consumer is familiar with this type of form letter request for information from a business. The purpose (intention or goal) of such messages is twofold. First and foremost, it is designed to elicit information that may be useful to the company (the sender or transmitter) in terms of how it offers its services. If, for example, mothers with children complain that there

2009 2008 ART 8.54 8.84 ACP 42.74 41.27 Iturnover 15.13 14.23 Inventory Age 24.12 25.65 Comments: Ford shows unfavorable activity ratios, which is indicative of the fact that the company is using its assets efficiently to meet financial requirements. All measures, except ART improved over time (from 2008 to 2009). 2009 2008 Debt/Equity 2.04 1.62 Debt/Assets 0.40 0.36 TIE -2.35 2.25 Comments: Ford uses debt heavily to finance the growth of the company. Overall the company is servicing the debt well and is stable over time, even though the loss in 2009 has affected the capital

Current Problem Diagnosis The problems within Marks and Spencer began in the 1990s, starting with financial difficulties, aggravated by fierce competition in the industry and consequently decreased sales and profits. Market analysts blamed the occurrence of the problems on a poor quality of the management. M&S was accused of not having paid enough attention to the changes affecting the market and as such, they had failed to adapt to the

This would provide an entire new level of communication between the service and the service provider. If the client did not like the service the last time they had their hair done, then they could point at the picture and show exactly the parts that they were not satisfied with so that the service could improve. This could offer a visual element to quality control that, to the best

" According to Short, Williams, and Christie (1976; cited by Van Den Hooff, Groot & De Jonge, 2005), Social Presence Theory notes that "communication media differ in the degree to which they can communicate (or simulate) the social presence of the communication partners through the use of social cues (both verbal and nonverbal cues)." This theory purports that if a medium can only communicate limited social cues, communication partners do